We use the internet (and IP in general) to stream video. At high bitrates (200mbit+) we aim for sub 100ms end to end, for compressed services we're happy with 500ms, maybe upto a second if it's something like Sydney to London over the internet.
I was in a control room a couple of weeks ago watching some football. There were two displays, one end was the feed from the stadium, one was the feed from the web streaming service.
There were cheers and then groans from the live end of the room. nearly a minute later someone on the web end started running up the field to score. Of course I knew at that point that it wouldn't be a goal, as not only did the people watching the live stream tell me, but twitter was abuzz.
1 minute end to end delivery latency is shocking for this type of program. Heck 10 seconds is bad enough.